After Saudi Arabia, the United Arab Emirates, Egypt and Bahrain cut political and economic ties with Qatar in June 2017, the country faced a challenging new landscape. Yet, according to Sheikh Abdulla Bin Saoud Al-Thani, governor of Qatar’s central bank, the negative effects of the blockade have been limited, and the country continues to strengthen its economic position.
“In the middle of a weakening global economy, the Qatari economy showed a resilient performance in 2018,” says Mr Al-Thani, adding that with the normalisation of capital flows and strengthened macro-economic conditions in 2018, the impact of the economic blockade has “diminished completely”. Economic growth has also been aided by the realignment of Qatar’s trading routes and traditional trading partners, he adds, with stronger ties forming between Qatar and countries such as Turkey and Iran.
